Answer: See explanation
Explanation:
a. The amount of the adjusting entry for uncollectible accounts will be:
= Estimated balance required in Allowance account - Unadjusted balance existing in Allowance account
= $14800 - $4000
= $10800
b. The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense will be:
Account receivables = $440,000
Allowance for Doubtful accounts = $14,800
Bad Debt expense = $10800
c. The net realizable value of accounts receivable will be:
= Account receivables - Allowance for Doubtful accounts
= $440,000 - $14800
= $425200
The answer is No and their choice
A free market is a market with No government restrictions on how a good or service can be produced or sold and with their choice.
What is Free market ?
- The free market is an financial framework
- based on supply and request with small orno government control.
- It could be a outline depiction of all intentional trades that take put in a given financial environment.
- Free markets are characterized by a unconstrained and decentralized arrange of courses of action through which people make financial decisions.
- Based on its political and lawful rules, a country's free showcase economy may run between exceptionally huge or totally unlawful.
To know more about Free market visit:
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Answer:
Management
Explanation:
Better cash management ensures survival of any firm if well handled and managed.
A Cash Management Strategy includes the use of Banks, Saving & Loan Associations, Credit Unions, and other financial institutions provide a variety of financial services or the use of Account services provide customers with online banking offering deposits, investments, credit cards, loans, mortgages, rewards programs and others.
Effective Cash Management Rules involves: balancing your checkbook regularly and Pay your bills on time
And others.
Answer:
$506,800
Explanation:
The calculation of budgeted materials cost is shown below:-
For computing the budgeted materials cost first we need to find out the total materials for production and materials to be purchased which is here below:-
Total materials for production = Budgeted production × Pounds of raw material per unit
= 35,000 × 4
= 140,000
Materials to be purchased = Total materials for production + Ending raw materials inventory - January 1 inventory
= 140,000 + (39,000 × 4 × 30%) - 42,000
= 140,000 + 46,800 - 42,000
= 186,800 - 42,000
= 144,800
Budgeted materials cost for January = Materials to be purchased × Cost per pound
= 144,800 × $3.50
= $506,800
Answer:
The computations are shown below:
Explanation:
a. Goods available for sale is
= beginning inventory + net purchase
= $11,000 + $13,500
= $24,500
The cost of goods sold is
= Goods available for sale - ending inventory
= $24,500 - $6,600
= $17,900
The gross profit is
= Net sales - cost of goods sold
= $21,500 - $17,900
= $3,600
b. For Krug service company, the net income is
= revenue - expenses
= $26,000 - $9,700
= $16,300
For Kleiner Merchandising Company, it is
= Gross profit - expenses
= $3,600 - $2,050
= $1,550
